how to start and run a retail business sussesfully?

Question

retail business like supermarkets / furniture stores / house hold stores

Answer 1

With the continuous growth in competition in retail sector and retailers even struggling for survival, new and new techniques are being applied to set-up, establish and run the show successfully.

You have many suggestions above and there are hundreds of examples in real life, yet business are not the same over period of time with the retail stores and they keep on modifying with the changing pace and market situations.

So many factors would determine your marketing and business running techniques such as your competition, location, type of products - consumable or durables, your resources, flexibility in business model......Have you thought of seeking professional advice on the subject?

You have options of trying hit and trial methods, from amongst the various suggestions applying your logics or you can avail qualified and experienced business advice. It is ever changing market and you need to be continuously on alert and not just once to start and make it move a business.

Answer 2

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

If you are not sure what kind of business you want to start then don't. You must be very focused, organized and have a real passion for what you are selling.
Make sure what ever you are selling has a real audience. If you have only a handful of people that are willing to pay for a product then you may not want to get started.
If you are in a small town be very careful that you will have clients coming from surrounding towns to purchase. If you don't the rule of thumb is small towns don't by local unless it is less expensive that wal-mart.
Good luck.

Answer 4

The best way to start and run a business is to start off small. You can start it in your garage or basement, to earn profit for bigger inventory and space later on.

www.score.org is the best place for you. They will help you with everything from marketing to taxes questions.

Good luck with your business! :)

Answer 5

I am a business advisor, email me